vs
NiSource（NI）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
NiSource的季度营收约是ROKU, INC的1.4倍（$1.9B vs $1.4B），NiSource净利率更高（13.7% vs 5.8%，领先7.9%），NiSource同比增速更快（22.5% vs 16.1%），ROKU, INC自由现金流更多（$106.6M vs $-133.7M），过去两年ROKU, INC的营收复合增速更高（25.8% vs 7.2%）
NiSource是美国规模最大的受全面监管公用事业企业之一，总部位于印第安纳州梅里尔维尔，员工规模超8000人。公司旗下拥有Columbia Gas、NIPSCO两大本土品牌，业务覆盖美国六个州，为约350万天然气用户、50万电力用户提供服务，2018年时是印第安纳州唯一的本土公用事业企业。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
NI vs ROKU — 直观对比
营收规模更大
NI
是对方的1.4倍
$1.4B
营收增速更快
NI
高出6.4%
16.1%
净利率更高
NI
高出7.9%
5.8%
自由现金流更多
ROKU
多$240.3M
$-133.7M
两年增速更快
ROKU
近两年复合增速
7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $257.8M | $80.5M |
| 毛利率 | — | 43.5% |
| 营业利润率 | 27.3% | 4.7% |
| 净利率 | 13.7% | 5.8% |
| 营收同比 | 22.5% | 16.1% |
| 净利润同比 | 15.1% | 326.4% |
| 每股收益（稀释后） | $0.53 | $0.55 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NIROKU
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $2.1B | $1.0B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $1.1B | $968.2M | ||
| Q1 24 | $1.6B | $881.5M |
净利润NIROKU
| Q4 25 | $257.8M | $80.5M | ||
| Q3 25 | $94.7M | $24.8M | ||
| Q2 25 | $102.2M | $10.5M | ||
| Q1 25 | $474.8M | $-27.4M | ||
| Q4 24 | $223.9M | $-35.5M | ||
| Q3 24 | $85.7M | $-9.0M | ||
| Q2 24 | $85.8M | $-34.0M | ||
| Q1 24 | $365.0M | $-50.9M |
毛利率NIROKU
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% | ||
| Q1 24 | — | 44.1% |
营业利润率NIROKU
| Q4 25 | 27.3% | 4.7% | ||
| Q3 25 | 24.0% | 0.8% | ||
| Q2 25 | 21.1% | -2.1% | ||
| Q1 25 | 35.3% | -5.7% | ||
| Q4 24 | 27.1% | -3.3% | ||
| Q3 24 | 20.9% | -3.4% | ||
| Q2 24 | 22.5% | -7.4% | ||
| Q1 24 | 35.5% | -8.2% |
净利率NIROKU
| Q4 25 | 13.7% | 5.8% | ||
| Q3 25 | 7.6% | 2.0% | ||
| Q2 25 | 8.2% | 0.9% | ||
| Q1 25 | 22.1% | -2.7% | ||
| Q4 24 | 14.5% | -3.0% | ||
| Q3 24 | 8.2% | -0.9% | ||
| Q2 24 | 8.1% | -3.5% | ||
| Q1 24 | 22.2% | -5.8% |
每股收益（稀释后）NIROKU
| Q4 25 | $0.53 | $0.55 | ||
| Q3 25 | $0.20 | $0.16 | ||
| Q2 25 | $0.22 | $0.07 | ||
| Q1 25 | $1.00 | $-0.19 | ||
| Q4 24 | $0.47 | $-0.24 | ||
| Q3 24 | $0.19 | $-0.06 | ||
| Q2 24 | $0.19 | $-0.24 | ||
| Q1 24 | $0.77 | $-0.35 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $110.1M | $2.3B |
| 总债务越低越好 | $15.5B | — |
| 股东权益账面价值 | $9.5B | $2.7B |
| 总资产 | $35.9B | $4.4B |
| 负债/权益比越低杠杆越低 | 1.64× | — |
8季度趋势，按日历期对齐
现金及短期投资NIROKU
| Q4 25 | $110.1M | $2.3B | ||
| Q3 25 | $95.0M | $2.3B | ||
| Q2 25 | $335.4M | $2.3B | ||
| Q1 25 | $259.4M | $2.3B | ||
| Q4 24 | $156.6M | $2.2B | ||
| Q3 24 | $126.2M | $2.1B | ||
| Q2 24 | $101.2M | $2.1B | ||
| Q1 24 | $102.2M | $2.1B |
总债务NIROKU
| Q4 25 | $15.5B | — | ||
| Q3 25 | $14.5B | — | ||
| Q2 25 | $14.5B | — | ||
| Q1 25 | $12.8B | — | ||
| Q4 24 | $12.1B | — | ||
| Q3 24 | $12.1B | — | ||
| Q2 24 | $12.8B | — | ||
| Q1 24 | $11.7B | — |
股东权益NIROKU
| Q4 25 | $9.5B | $2.7B | ||
| Q3 25 | $9.1B | $2.6B | ||
| Q2 25 | $8.9B | $2.6B | ||
| Q1 25 | $8.9B | $2.5B | ||
| Q4 24 | $8.7B | $2.5B | ||
| Q3 24 | $8.3B | $2.5B | ||
| Q2 24 | $7.9B | $2.4B | ||
| Q1 24 | $7.9B | $2.4B |
总资产NIROKU
| Q4 25 | $35.9B | $4.4B | ||
| Q3 25 | $34.4B | $4.4B | ||
| Q2 25 | $34.0B | $4.3B | ||
| Q1 25 | $33.1B | $4.2B | ||
| Q4 24 | $31.8B | $4.3B | ||
| Q3 24 | $30.8B | $4.3B | ||
| Q2 24 | $29.9B | $4.1B | ||
| Q1 24 | $29.3B | $4.2B |
负债/权益比NIROKU
| Q4 25 | 1.64× | — | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.39× | — | ||
| Q3 24 | 1.45× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | 1.48× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $712.6M | $107.7M |
| 自由现金流经营现金流 - 资本支出 | $-133.7M | $106.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 7.6% |
| 资本支出强度资本支出/营收 | 44.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 2.76× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $-420.0M | $478.4M |
8季度趋势，按日历期对齐
经营现金流NIROKU
| Q4 25 | $712.6M | $107.7M | ||
| Q3 25 | $467.9M | $127.6M | ||
| Q2 25 | $495.4M | $109.7M | ||
| Q1 25 | $686.4M | $138.7M | ||
| Q4 24 | $539.8M | $79.3M | ||
| Q3 24 | $340.0M | $68.7M | ||
| Q2 24 | $445.5M | $23.4M | ||
| Q1 24 | $456.2M | $46.7M |
自由现金流NIROKU
| Q4 25 | $-133.7M | $106.6M | ||
| Q3 25 | $-172.6M | $126.5M | ||
| Q2 25 | $-162.8M | $108.6M | ||
| Q1 25 | $49.1M | $136.8M | ||
| Q4 24 | $-220.2M | $76.8M | ||
| Q3 24 | $-294.7M | $67.6M | ||
| Q2 24 | $-184.3M | $22.5M | ||
| Q1 24 | $-133.3M | $46.0M |
自由现金流率NIROKU
| Q4 25 | -7.1% | 7.6% | ||
| Q3 25 | -13.9% | 10.4% | ||
| Q2 25 | -13.1% | 9.8% | ||
| Q1 25 | 2.3% | 13.4% | ||
| Q4 24 | -14.3% | 6.4% | ||
| Q3 24 | -28.2% | 6.4% | ||
| Q2 24 | -17.5% | 2.3% | ||
| Q1 24 | -8.1% | 5.2% |
资本支出强度NIROKU
| Q4 25 | 44.9% | 0.1% | ||
| Q3 25 | 51.6% | 0.1% | ||
| Q2 25 | 52.8% | 0.1% | ||
| Q1 25 | 29.6% | 0.2% | ||
| Q4 24 | 49.4% | 0.2% | ||
| Q3 24 | 60.7% | 0.1% | ||
| Q2 24 | 59.7% | 0.1% | ||
| Q1 24 | 35.9% | 0.1% |
现金转化率NIROKU
| Q4 25 | 2.76× | 1.34× | ||
| Q3 25 | 4.94× | 5.14× | ||
| Q2 25 | 4.85× | 10.45× | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 2.41× | — | ||
| Q3 24 | 3.97× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 1.25× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
NI
| Residential | $703.6M | 37% |
| Ni Source Electric Generation And Power Delivery | $525.6M | 28% |
| NIPSCO Gas Distribution | $348.1M | 18% |
| Commercial | $235.9M | 13% |
| Industrial | $45.9M | 2% |
| Offsystem | $16.9M | 1% |
| Misc. | $9.6M | 1% |
| Related Party | $3.3M | 0% |
ROKU
| Services | $1.2B | 88% |
| Products | $170.9M | 12% |
